Preparation of financial statements has to be conducted in a specific order because the information from one statement can carry over to another. Accountants at SRJ Chartered Professional Accountants are experts in preparing financial statements and can ensure your statements are prepared in the required sequence.
Financial Statement Preparation
Business Financial Statements & Accounting Services in Toronto
At SRJ Chartered Accountants, we commit time, energy and professional expertise to help our clients with preparing business financial statements in Toronto. Professionally compiled business financial statements make it a lot easier for all users of the financial statements to understand exactly what the numbers really mean. Reliable and accurate business financial statements are integral to any business and are generally considered an important tool to make sound business decisions.
Often the need for business financial statements is driven by the need to file tax returns (personal, corporate and trust), minimize, plan and determine tax liabilities and support business decisions. Most sets of business financial statements of owner-managed enterprises are prepared for one or more of three groups of users: managers, owners and banks or other creditors.
Our reporting, accounting and financial statement services include:
- Preparing business financial statements
- Financial audits, financial statement reviews and other accounting services
- Due diligence reporting
- Control and assurance reviews
- Mergers and acquisitions
- Sales tax/HST/GST, financial forecasts, and special reports
Determining the appropriate level of reporting
Our professionals at the firm determine the appropriate level of reporting by gathering extensive information about your company, its operating environment, and strengths and weaknesses. In addition to identifying the client's needs, it is also necessary to identify the needs of other users of the financial statements.
Audit Engagement Report: Provides the highest level of assurance on financial statements of a business. It is a methodical review and objective examination of the business financial statements. The work required includes reviewing internal controls, testing selected transactions and communicating with third parties. Based on findings, the chartered accountant firm issues a report on whether the financial statements are fairly stated and free of material misstatements.
Review Engagement Report: Provides a moderate level of assurance on business financial statements. Our Chartered Accountants gather sufficient evidence and perform sufficient procedures upon which to form a negative form of communication regarding whether the information is fairly presented.
Notice to Readers & Reporting Requirements
Notice to Readers: Business financial statements prepared without audit or review. As Chartered Accountants in Toronto we compile business financial statements for clients and present information that is a "representation of management" and express no opinion or assurance on the statements.
Generally, banks and other creditors usually want audited or reviewed business financial statements as part of their lending covenants.
In many jurisdictions, business financial statements including income statement and balance sheet are required by law for most corporations. Please review the requirements of your corporation based on the jurisdiction in which your business is incorporated.
If your company is incorporated in Ontario, you can learn more about business financial statements by visiting: Ontario Financial Statements Requirements.
Learn more about notice to reader financial statements.
Why Choose SRJCA for Financial Statements
SRJCA are your tax experts in the GTA. We are here to help you plan your financial goals and assist in implementation. We ensure that you get to keep more of what you make.
SRJ Chartered Accountants has two conveniently located offices in the Greater Toronto Area — our downtown Toronto office and our head office in Mississauga. We are open to meeting clients at either location. We have developed a team of highly skilled staff who are educated from the most prestigious tax and accounting schools in Canada.
Whether you need an audit engagement, review engagement, or notice to reader financial statements, our team will determine the right level of reporting for your business and ensure your statements meet the requirements of your stakeholders.
We also provide bookkeeping services in Toronto.
Financial Statement Services
- Audit engagement reports — highest level of assurance
- Review engagement reports — moderate level of assurance
- Notice to reader financial statements
- Mergers, acquisitions, and special reports
Financial Statements
Read our blog post on Small Business Financial Statements Services in Toronto for more information:
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SRJCA are your tax experts in the GTA. We are here to help you plan your financial goals and assist in implementation. We ensure that you get to keep more of what you make. Speak to one of our accountants to help you plan your financial future.
SRJ Chartered Accountants has two conveniently located offices in the Greater Toronto Area.
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Client Success Stories
Alyza Raithatha - Integra Health Centre
Craig Gibson - Scotiabank
Abraham Top - Diamond and Diamond Lawyers
Shayan Rashid, CPA
Co-Founder
As Co-Founder of SRJ Chartered Professional Accountants, Shayan has spent over a decade helping business owners across more than a dozen industries navigate complex tax and accounting challenges. From healthcare practitioners and legal professionals to tech startups and eCommerce brands, his strategic approach focuses on reducing tax burdens and building sustainable financial systems that scale with each client's growth.
Junaid Usmani, CPA, CA, MTax
Co-Founder
Junaid brings deep expertise in corporate tax planning and advisory services to clients across every industry SRJ serves. With a focus on professional corporations, holding company structures, and multi-jurisdictional tax strategy, he helps business owners make informed decisions at every stage, whether they're incorporating their first practice, expanding a tech company, or preparing for a business sale. His attention to detail and proactive approach have made him a trusted partner for self-employed professionals across Toronto.
Tracie Heier, CPA, CA, MPAcc
Partner
Tracie plays a key role in client relationships and engagement at SRJ, working closely with business owners across healthcare, professional services, and growing enterprises. She specializes in translating complex accounting concepts into practical guidance, helping clients understand their numbers and make confident decisions. Her collaborative approach ensures every client, from solo practitioners to established firms, feels supported throughout the year, not just at tax time.